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IMF calls for public spending to boost China's consumption

(Xinhua)
Updated: 2007-01-27 14:18

He welcomed the priority these factors were given in the outcome of the National Financial Work Conference, held last week to set out the country's financial reform, he said.

He said he had been impressed by China's continued strong economic performance.

"China has transformed itself into a major economic powerhouse through rapid growth, job creation, and poverty reduction," he said.

China registered a 10.7 percenteconomic growth ratefor 2006.

On the prospects for the global economy and the reform of the IMF, Rato said he and senior Chinese finance and central bank officials agreed the outlook was for continued strong growth, with China making an important contribution, and that risks to global growth had moderated in recent months.

"China's continued economic success and stability have become more important for other countries in the region and worldwide," he said.

"With the vision of its leadership and their resolve to tackle the challenges that China faces, I am confident that China will continue on its path to achieve greater economic prosperity," said Rato.